Hidria has developed a new cost- and energy-efficient technology for the production of stators and rotors in highly efficient electro-motors for the new hybrid and electric vehicles.

According to Hidria CEO Iztok Seljak, the group is focussing on finding innovative solutions for the transition into a low carbon society.

About half of cars produced in Europe, meaning eight million cars, are expected to be hybrid or electric by as early as 2025, and Hidria's goal is to have a 10-20% market share, he said. The EUR 300 million deals will raise Hidria's current market share to 8-10%.

BMW and Daimler will start installing Hidria's stators and rotors in its vehicles in 2021.

Since Seljak expects a further rise in orders, Hidria will have to expand its production capacities. Currently its has plants in Spodnja Idrija and Jesenice, in Germany and Hungary, and together with a US partner also in the US.

It will also have to hire more staff. Based on the deals closed, the number of those employed by the group is expected to rise by 150 to 2,650.

According to CEO of Hidria Holding, the group annually allocates some EUR 10m for development and some EUR 20 million for investment.

In the next few years, it plans to invest another EUR 50 million in development, and more than EUR 100 million in expansion of production.

Hidria has developed its innovative solutions for stators and rotors in cooperation with the National Institute of Chemistry and the Slovenian company Jutronic.

Education, Science and Sport Minister Jernej Pikalo, who attended today's presentation of the group's achievements in Jesenice, said Hidria's innovations were an important technological breakthrough that not only connected science and business but would result in more energy efficient cars.